DUBAI // The world's gaze continues to be trained on the Arab Spring but a leading UAE academic says another major trend is under way in the region: the Arab Gulf moment.
This is the name given by Abdulkhaleq Abdulla, a professor of political science at UAE University, to an unprecedented period in the history of the UAE and the other states that make up the GCC.
He argues that they have left their old peripheral status behind and now wield enormous power as they take centre stage in Arab politics.
Prof Abdulla's comments are recorded in a book published by the Kuwait Programme, a 10-year international study of the GCC states, which he refers to as the Arab Gulf States (AGS).
He describes the policy of rapid development spearheaded by Dubai and the rest of the UAE as a trendsetter in the Gulf.
"The emergence of Dubai as the new hub and centre of growth, innovation and modernity captured the regional imagination, and heightened competition among the AGS for a fresh round of fast-track economic growth," he writes.
He notes the appearance of a middle class that did not exist in the region previously, and adds: "The Emirati middle class exhibits the most satisfaction and greatest social recognition from employment, feeling that hard work and ambition can bring career advancement."
Prof Abdulla says the AGS have a high standard of living and enjoy a comparatively good quality of life. He quotes research that says 86 per cent of UAE citizens express strong satisfaction with their lives and feel optimistic about the future.
But the six Gulf countries face significant challenges, he says, such as their vulnerability to regional tensions.
One of the major challenges he identifies is the demographic imbalance in the Gulf states, with the percentage of citizens looking set to drop in the coming years.
But he concludes: "It appears that the Gulf moment is here to stay, and to flourish for a long time to come."
Prof Abdulla is one of 22 academics who have worked on The Transformation of the Gulf, the first book to be published by the Kuwait Programme.
The programme is funded by the Kuwait Foundation for the Advancement of Science and was set up to study development, governance and globalisation in the UAE, Saudi Arabia, Kuwait, Bahrain, Oman and Qatar.
Hosted by the London School of Economics (LSE), it is designed to support postdoctoral researchers and doctorate students develop academic links between the LSE and Gulf institutions, and hold lectures, seminars and conferences.
Another contributor, Anoushiravan Ehteshami, also notes the growing regional influence of some GCC states, including the UAE. In a chapter on security and strategic trends in the Middle East, he says: "Qatar, the UAE and, to a lesser extent, Kuwait have raised their diplomatic game and are now able to project influence.
"These countries are said to be emerging as new influential actors in their own right."
Kristian Ulrichsen, the book's co-editor, said the rapid pace of change in the Gulf had fascinated researchers.
"You can see socio-economic changes that have taken decades in other contexts being compressed into a matter of years," he said.
csimpson@thenational.ae
The Transformation of the Gulf: Politics, Economics and the Global Order, edited by David Held and Kristian Ulrichsen, Routledge, Dh153.
US tops drug cost charts
The study of 13 essential drugs showed costs in the United States were about 300 per cent higher than the global average, followed by Germany at 126 per cent and 122 per cent in the UAE.
Thailand, Kenya and Malaysia were rated as nations with the lowest costs, about 90 per cent cheaper.
In the case of insulin, diabetic patients in the US paid five and a half times the global average, while in the UAE the costs are about 50 per cent higher than the median price of branded and generic drugs.
Some of the costliest drugs worldwide include Lipitor for high cholesterol.
The study’s price index placed the US at an exorbitant 2,170 per cent higher for Lipitor than the average global price and the UAE at the eighth spot globally with costs 252 per cent higher.
High blood pressure medication Zestril was also more than 2,680 per cent higher in the US and the UAE price was 187 per cent higher than the global price.
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Produced by: Reliance Entertainment with Chalk and Cheese Films
Director: Tushar Hiranandani
Cast: Taapsee Pannu, Bhumi Pednekar, Prakash Jha, Vineet Singh
Rating: 3.5/5 stars
Killing of Qassem Suleimani
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The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
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Directors: Raj & DK
Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon
Rating: 4/5
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
The five pillars of Islam
Electoral College Victory
Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
Popular Vote Tally
The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.
COMPANY%20PROFILE
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The specs
Engine: 77.4kW all-wheel-drive dual motor
Power: 320bhp
Torque: 605Nm
Transmission: Single-speed automatic
Price: From Dh219,000
On sale: Now
Landfill in numbers
• Landfill gas is composed of 50 per cent methane
• Methane is 28 times more harmful than Co2 in terms of global warming
• 11 million total tonnes of waste are being generated annually in Abu Dhabi
• 18,000 tonnes per year of hazardous and medical waste is produced in Abu Dhabi emirate per year
• 20,000 litres of cooking oil produced in Abu Dhabi’s cafeterias and restaurants every day is thrown away
• 50 per cent of Abu Dhabi’s waste is from construction and demolition
A Bad Moms Christmas
Dir: John Lucas and Scott Moore
Starring: Mila Kunis, Kathryn Hahn, Kristen Bell, Susan Sarandon, Christine Baranski, Cheryl Hines
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ESSENTIALS
The flights
Emirates flies from Dubai to Phnom Penh via Yangon from Dh2,700 return including taxes. Cambodia Bayon Airlines and Cambodia Angkor Air offer return flights from Phnom Penh to Siem Reap from Dh250 return including taxes. The flight takes about 45 minutes.
The hotels
Rooms at the Raffles Le Royal in Phnom Penh cost from $225 (Dh826) per night including taxes. Rooms at the Grand Hotel d'Angkor cost from $261 (Dh960) per night including taxes.
The tours
A cyclo architecture tour of Phnom Penh costs from $20 (Dh75) per person for about three hours, with Khmer Architecture Tours. Tailor-made tours of all of Cambodia, or sites like Angkor alone, can be arranged by About Asia Travel. Emirates Holidays also offers packages.
Key changes
Commission caps
For life insurance products with a savings component, Peter Hodgins of Clyde & Co said different caps apply to the saving and protection elements:
• For the saving component, a cap of 4.5 per cent of the annualised premium per year (which may not exceed 90 per cent of the annualised premium over the policy term).
• On the protection component, there is a cap of 10 per cent of the annualised premium per year (which may not exceed 160 per cent of the annualised premium over the policy term).
• Indemnity commission, the amount of commission that can be advanced to a product salesperson, can be 50 per cent of the annualised premium for the first year or 50 per cent of the total commissions on the policy calculated.
• The remaining commission after deduction of the indemnity commission is paid equally over the premium payment term.
• For pure protection products, which only offer a life insurance component, the maximum commission will be 10 per cent of the annualised premium multiplied by the length of the policy in years.
Disclosure
Customers must now be provided with a full illustration of the product they are buying to ensure they understand the potential returns on savings products as well as the effects of any charges. There is also a “free-look” period of 30 days, where insurers must provide a full refund if the buyer wishes to cancel the policy.
“The illustration should provide for at least two scenarios to illustrate the performance of the product,” said Mr Hodgins. “All illustrations are required to be signed by the customer.”
Another illustration must outline surrender charges to ensure they understand the costs of exiting a fixed-term product early.
Illustrations must also be kept updatedand insurers must provide information on the top five investment funds available annually, including at least five years' performance data.
“This may be segregated based on the risk appetite of the customer (in which case, the top five funds for each segment must be provided),” said Mr Hodgins.
Product providers must also disclose the ratio of protection benefit to savings benefits. If a protection benefit ratio is less than 10 per cent "the product must carry a warning stating that it has limited or no protection benefit" Mr Hodgins added.
UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now